A lot of people are highly ignorant to how losing their phones to fraudsters can lead to a complete clean-up of their bank accounts.

If you ask any banker, he or she will tell you about the hundreds of customers who have often come crying to the banks for help after realizing that the money in their bank accounts have either fallen short of what it should be or has hit red.

These fraudsters do this by stealing victims’ identities; name, address, bank information which they use in gaining access to their bank accounts. They also use the stolen identity to defraud other people and even apply for loans, leaving the victim with debts.

A local fraudster arrested by the Police confesses to how he steals money from people’s bank accounts through their SIM cards. He claims he does “Wire Wire” also called SIM transaction or “Joker wire” where he can unlock, transfer and withdraw from any SIM card that is linked to a bank account.